BANK SBI Clerk Mock Test Series 2025 (Pre + Mains) Banking and Financial Awareness Banking Act or Policies
Which of the following correctly defines Cash Reserve Ratio (CRR) of banks?
1
It is a certain minimum amount of deposit that the commercial banks have to hold as reserves with RBI.
2
It is a certain minimum amount of deposit that the commercial banks have to hold as reserves with itself.
3
It is the maximum amount of deposit that the commercial banks have to hold as reserves with RBI.
4
It is the reserve required to be maintained in the form of cash, gold reserves, RBI approved securities.
5
It is the rate at which RBI lends the money to commercial banks.